Alternate Demonstration Problem The Dancing Quarterback reports the following unadjusted trial balance and additional information as of January 31, 2010 The Dancing Quarter Back Unadjusted Trial Balance 1/31/2010 $ Cash Accounts Recievable Supplies Prepaid Insurance Equipment Accounts Payable Leinart, Capital Leinart, Withdrawal Dancing Lesson Revenue Salary Expense Rent Expense Utilities Expense Advertising Expense Debits Credits 3,900 350 150 600 1,200 $ 1,150 5,000 500 2.300 800 500 200 250 8,450 $ 8.450 Instructions: 1. Record Ales on the blank form 2. Plot each AJE amount into the Adjusting JE columns on the worksheet 3. Foot across to complete the Adjusted Trial Balance columns on the worksheet 4. From the Adjusted Trial Balance, create the Income Statement and Balance Sheet Information to use for recording adjusting jounal entries on 1/31/2010: 1.1/2 of Prepaid Insurance has expired (was used) in Jan 2. A physical count of supplies inventory on 1/31 revealed that only $60 remained 3. Equipment depreciation calculated for Jan is $120 4. On 1/30 and 1/31 an employee worked and earned $100 per day, but will be paid in Feb 5-8